Read & Share: Defining The New Cannabis Consumer

Defining The New Cannabis Consumer

The cannabis industry is transforming, and so too are its consumers.

As they edge further into the mainstream, cannabis companies will need to fight for the consumer’s dollar—not just against other cannabis brands but also against a number of other industries in the discretionary spending sphere.

This graphic from Tenacious Labs looks at key data that will help us define the new cannabis consumer and explores how cannabis industry sales compare to adjacent discretionary spending industries.

Competing for the Cannabis Consumer Dollar

Roughly 12% of Americans consume cannabis which translates roughly into $60 billion in sales. While these figures are mostly made up of the illicit market, it’s forecasted that the legal industry’s footprint will come to represent the majority of the market.

Source: Visual Capitalist

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ABOUT MIKE MERCURIO

Mike Mercurio | [email protected] | 301-575-0332

Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.

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